Chinese business community studies Xi’s keynote B20 Summit speech

A study session on Chinese President Xi Jinping’s important speech at the B20 Summit was held at the China Council for the Promotion of International Trade (CCPIT) in Beijing on September 14.

CCPIT Vice Chairman Chen Zhou attended the meeting and said Xi’s speech, which called for revitalizing trade and investment, the two major engines of economic development, gave the correct prescription for global growth.

Xi urged countries to “work together” to create a peaceful and stable international environment, build a global partnership for win-win cooperation and improve global economic governance.

While expounding on the four “great courses” concerning China’s reform and opening-up – blazing a new trail, delivering tangible outcomes, achieving common prosperity, and China and the world’s embracing each other -- Xi stressed that China will “steadfastly” deepen reform in an all-round way to open up brighter prospects of development, pursue an innovation-driven development strategy to create stronger growth engines, advance green development to achieve better economic performance, promote equity and sharing of development outcomes to deliver more benefits to the people, and open up more widely to achieve greater collective benefit.

Xi’s well-oriented keynote speech has great strategic significance, and his insightful visions will have a far-reaching impact on future development, Chen said.

Xi expounded on the great course of China’s reform and opening up in a profound way, put forward China’s comprehensive solution to helping the world economy overcome difficulties, sounded a clear Chinese voice in actively participating in global economic governance, expressed the country’s confidence in bringing more development opportunities to the world, and displayed its determination to take on its responsibility.

Xi also pointed out that “the business community is the main driver of growth”, and “the business people from G20 countries have taken an active part in the G20 process throughout the year” and “contributed positively to the Hangzhou Summit”. The remarks showed the Chinese government attaches great importance to the roles of the B20 and the business community, offered a new direction for the international business community to get heavily involved in global economic governance, provided guidance for the B20 to clearly define its position and functions in preparing recommendations, and had positive effects on the development of the B20’s agendas and operation rules, said Chen.

He expressed the hope that the business community will serve as an action team for implementing the G20 Hangzhou consensus according to the requirements made in Xi’s keynote speech.

The CCPIT will take this opportunity to accelerate, transform, upgrade and expand its own functions to better serve enterprises, governments and society, Chen added.

The participants discussed suggestions and measures to materialize the essence of Xi’s speech. They agreed that Xi’s remarks revealed the rich content of the theories and practices of China’s reform and opening up, made pragmatic proposals for driving the world economy toward a strong, sustainable, balanced and inclusive growth, pointed out a new direction for the G20 to fulfill its role and tackle problems hampering world economic growth, and put forward expectations and requirements of the business community in promoting global growth and participating in global economic governance.